Feds Goolsbee: There is nothing in the Feds mandate about stock prices

<p>Fed's Goolsbee in an interview on FOXBusiness says:</p><ul><li>There is nothing in the Fed's mandate about stock prices.</li><li>I hope markets remain sober.</li><li>SVB bet the market was right on Fed, bet against the Fed, a terrible idea.</li><li>Central bankers have to see through the markets ups and downs</li><li>The strongest part of the economic data is labor market data.</li><li>I am hopeful we can get inflation down to something like a target without a recession.</li><li>Heartened by strength in various sectors, but we need more balance.</li><li>If labor market is too hard, will have a hard time bringing down inflation.</li><li>There has been calling inflation.</li><li>Goods inflation has not come down as fast as have wanted it to.</li><li>There is a lag in the impact of interest rate on the economy.</li><li>Not made up his mind on rates.</li><li>There is a number of data releases before the next Fed meeting (*the next Fed rate decisions on July 26)</li></ul><p>Goolsbee is the president of the Chicago Fed and is more of a dove.</p>

This article was written by Greg Michalowski at www.forexlive.com.